Nexus Infrastr. Regulatory News (NEXS)

30th March 2023

Nexus Infrastructure plc

("Nexus" or the "Company" or the "Group")

AGM Statement

At the Annual General Meeting of Nexus Infrastructure plc (AIM:NEXS), a market-leading provider of civil engineering and infrastructure services to the UK housebuilding sector, convened for 9.00 am today, Richard Kilner, the Chairman will state:

"In February, we completed the strategic disposal of two former Group businesses, crystallising value for shareholders. We have ensured that our Group has adequate working capital and is well-capitalised for the future. 

Tamdown, our operating business, continues to be in a resilient position, with excellent customer retention and repeat business due to its reputation for quality delivery.

The housing market continues to be in a long-term position of undersupply, with housebuilders and housing associations striving to accelerate delivery and ensure quality.

As we enter the traditionally busy spring selling season for housebuilders, their performance will be key to underpinning FY23 and FY24 performance for Tamdown.

Tamdown's trading is in line with the Board's expectations, and the business is well-placed to retain and attract customers while making progress towards its previously stated medium-term financial and strategic objectives".

Enquiries:

Nexus Infrastructure plc Tel: 01376 559 550

Charles Sweeney, Chief Executive Officer

Dawn Hillman, Chief Financial Officer

Numis Securities Limited Tel: 0207 260 1000

(Nominated Adviser & Broker)

Oliver Hardy (Nomad)

Heraclis Economides

Hannah Boros

Financial Public Relations

Camarco Tel: 0203 757 4992/4981 

Ginny Pulbrook

Rosie Driscoll

Notes to Editors: 

Nexus is delivering sustainable infrastructure through its wholly owned subsidiary Tamdown, which provides a range of civil engineering and infrastructure services to the UK housebuilding sector.

Services include earthworks, highways, substructures and basements, and installing sustainable drainage systems.

The business has a well-established market position, having been in operation for over 40 years and its operations are focused on the South East of England and London.